Portfolio

[Acadian]

Hi,
I need some help; I will be retiring in July at 62 with a $500,000.00 portfolio and don’t have a clue as to the best way to retrieve $ 1,600 monthly from my portfolio, could you give some ideas?

Fidelity Wachovia
IRA Mutual Funds
74,500 153,000
401K Cash
116,500 150,000
ESOP
6,000

Thank you,

 

[Cut-Throat]

The simple answer would be to put it in a Vanguard Retirement Fund - Probably the 2005 Fund. - You are basically talking about a 3.8% withdrawal rate. You could set it and forget it basically. This would be my choice if you are not interested in investing and spending a lot of time investing.

Stay away from financial planners, as they are only interested in lining their pockets.

Any answer here will involve predicting the future a bit. - So is this absolutely safe? - No - But then again in this life nothing is safe!

 

[Acadian]

Thank you